Business
Removing Sharks from the Gambling Pools: Newgioco Group, Inc. CEO, Mike Ciavarella, Explains the Plan on “Stock Day”
Removing Sharks from the Gambling Pools: Newgioco Group, Inc. CEO, Mike Ciavarella, Explains the Plan on “Stock Day”.
About this update from Elys Bmg Group, Inc.
[{"type":"text","content":"\n\n PHOENIX, Jan. 30, 2018 (GLOBE NEWSWIRE) -- Mr. Everett Jolly, was excited to recently welcome first time guest Mr. Mike Ciavarella to the “Stock Day” podcast in order to share with the Uptick Newswire investment community the stock value potential.  Mr. Ciavarella is the Chairman and CEO of Newgioco Group, Inc. (OTCQB:NWGI) (the “Company”), a fully licensed online and land-based lottery and gaming operator in the gaming and entertainment industry.  Mr. Jolly recaps the Company’s previous revenues as follows: 2014 the company saw $1.7 million, 2015; $4.8 million, 2016; $8.9 million and 2017; $22 million.\n Capitalizing on day-to-day betting such as lottery tickets and by hosting online poker forums, Newgioco Group Inc. CEO is reportedly seeing a tremendous growth opportunity in the global leisure betting industry.  Mr. Ciavarella has noticed a trend in liberalization of laws regarding gambling within the United States and plans to be ready to jump into that market when legally appropriate. Faced with the tough question regarding low profit margins, Mr. Ciavarella describes the Company’s inception and development into its current position.  The Company started the project in Italy and explains that while “profit has been lower than what we will see going forward because most of our development cost was self-funded”.  Mr. Ciavarella explains how this Company began with a profitable local gaming company in Italy, a model from which the Company has been developing upon.  Mr. Jolly brings up the previously released Company projection of $6.5 million in earnings for 2018, before taxes and depreciation, and asks about perceived growth potential. Mr. Ciavarella reports that he is confident that Newgioco Group Inc. will see substantial growth in 2018. Although there is a substantial growth in products such as sports betting, and online casino, he noted a general decline in the last few years of players playing online poker due to circumstances regarding the fairness of play.  Newgioco has identified a need for a solid and fair product line with international gaming accounts.  Recently signing a deal with a professional poker group, the Company plans to attract more players with a fair ground basis, accomplished by providing an environment where ev...